Brisbane’s Panther Print is entering liquidation after 29 years of business.
The Stafford-based offset printer was founded in 1989 by Walter Kuhn, owner of Kuhn Corp and the president of the Printing Industries Association of Australia. In 1992, Kuhn sold the company to Les Beech, father of current managing director Greg Beech.
“The company closed on Thursday and they have given a few reasons for ceasing,” Bill Cotter of Robson Cotter Insolvency Group, who is handling the liquidation, told ProPrint. Cotter said he still did not have the creditor figures, and was still “figuring it out” with the business.
Before its closure, Panther offered offset, design, production art and prepress, finishing and post production, delivery, distribution and stock control services.
This makes Panther one of the commercial printers closing its doors this year, following Sony DADC in Huntingwood, NSW in February and Western Sydney-based Saunders Print Group in March.
Auction market opens the spring season with significant clearance rate in Sydney, Melbourne, Brisbane, Canberra and Adelaide.
Sydney market remains strong with its fourth consecutive weekend of a clearance rate above 80 per cent, well above the rate recorded at the same weekend last year of 75.1 per cent.
Melbourne market is also at its strongest since last winter, achieving 77.5 per cent clearance rate on Saturday and making it the sixth consecutive weekends of clearance rates above 75 per cent.
Domain senior economist, Andrew Wilson told AFR Weekend that other cities are experiencing similar trend. “Brisbane saw a clearance rate of 54 per cent when it is usually travelling in the 40s, Canberra hit 82 per cent and Adelaide 74 per cent,” said Wilson.
Observers believe that this market boom is motivated by lower number of listings and cuts in interest rates by the Reserve Bank of Australia last month. Wilson reports that this weekend, Sydney only saw 537 auctions compared to 815 auctions at the same weekend last year while Melbourne had 718 auctions compared to 880 last year.